Credit Report Changes Interview with WTVN Radio Columbus

By Media Relations Senior Industry Analyst Matt Schulz spoke with Joel Riley of WTVN Radio Columbus on Wednesday, March 11, 2015 about recent changes by the three big credit bureaus to improve accuracy on credit reports. The interview and transcript are below.


Joel Riley: Credit’s one of those things some people ignore, other people guard down to their very core and it seems like if you’re wired to the latter it will be a little easier to dispute any problems you have on your credit report. With comment now Senior Analyst at Matt Schulz. And Matt, what have the changes been, what’s going to make it easier for us moving forward to kind of insulate ourselves from having bad credit.

Matt Schulz: Well, there’s been quite a few changes that have been real positive for the consumer as a result of an agreement that the three big credit bureaus made with the Attorney General of the State of New York. It basically surround two things: medical debt, which they are going to start treating differently on your credit report. But then also the process of disputing a mistake that you might have found on your credit report. They’re going to basically, it’ll be less automated and there will be more actual people involved, which is kind of amazing that that is something that had to be changed.

Riley: Yeah, Matt Schulz our guest with – you’re at, how much of our credit card debt and what we do with our credit cards equates right to the credit score? It seems like any time we talk about credit it’s all about that plastic we carry.

Schulz: Yeah, your credit score is absolutely crucial to what kind of cc you can get, what kind of mortgage you can get, the whole thing. And it can really impact you to the tune of thousands of dollars over the course of your life.

Riley: And when we talk about those three big agencies is there any one that carries more weight, is there any one I should be more in tune with, more connected to?

Schulz: No, there really all three pretty equal. They might have slightly different information on you so that’s why it’s important to get your credit report from all three of them each year, which you can do for free with no strings attached at, but no – there’s not one that’s more significant than the other.

Riley: Alright, and because this negotiation was between the big agencies and NY Attorney General it will implications across the country, not just in the Big Apple area?

Schulz: Correct. It’s going to impact everybody and the changes, we’ll start seeing the changes in the next six months and they’ll roll out over the next couple of years.

Riley: And is it just a timeline thing or is it a real impact on my credit score that is kind of the victory for folks like you and me when it comes to this new negotiation process?

Schulz: Well, it’s a little bit of a behind the scenes thing because previously it has all been kind of automated and when you said, “Well, I think that this is wrong” and if the merchant says, “No, that information is right” – there really wasn’t much else that was done. But now this agreement basically says you have to have a real person who takes a look at the documentation. So it really gives people a little better chance of actually getting something done.

Riley: The human element, making things better in the world of technology, are you kidding me?

Schulz: Imagine that!

Riley: I feel like it’s a move in the right direction. Matt, I appreciate the time and the comments. Matt Schulz – he’s senior Analyst at

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